The Seven Network said today it had offered Mercedes Corby an out of court confidential settlement.
The offer was made after a jury found the network had defamed Ms Corby during a series of segments, which aired on its Today Tonight program.
In the program, Ms Corby’s former best friend Jody Power made various allegations, which the jury found could not be substantiated.
A jubilant Ms Corby left the court yesterday after the ruling.
Ms Power, who has not backed down from her claims, left the court notably distraught.
A stipulation of the agreement between the network and Ms Corby is that the settlement remains confidential.
"There will be no further statements as the terms of the settlement preclude either party making any further comment regarding that settlement," Seven said in a statement.
Ms Corby said the settlement would allow her to spend more time with her family including her convicted drug smuggler sister Schapelle, jailed in Bali, Ninemsn reported.